Rockwell Automation (ROK) – Bearish DailyPlay for Friday Nov 9th, 2018

The bearish DailyPlay we chose for Friday, Nov 9th is Rockwell Automation (ROK). ROK is part of the Industrial Sector (XLI). Over the last month, XLI has experienced an 2.97% move lower and its 1m and 6m trend has turned bearish on 10/10 while breaking below its $78 support level.

Rockwell Automation’s 1m and 6m trends turned bearish on 10/10 and recently broke below its $180 resistance level which was prior support. With a technical score of 7 (out of 10), ROK is a strong stock that is starting to turn lower.

View this Trade Idea on ROK

As a stop loss, if ROK was to trade above $180 for multiple days, this would invalidate our analysis and suggest getting out of the trade.